#DigitalAssetBill Concise Update: Digital Asset Bill Advances with Key Changes

The Digital Asset Bill has progressed with major amendments:

1. Stricter KYC/AML rules for exchanges and DeFi to combat fraud.

2. Clearer crypto tax rules for gains, staking, and airdrops.

3. Stablecoin safeguards,including reserve audits to prevent collapses.

4. DeFi/DAO regulations, potentially classifying them as financial entities.

5. CBDC framework added, exploring interoperability with crypto.

Reactions:Pro-crypto groups seek balance, banks support stability, and DeFi warns of overreach. The bill now heads to the Senate for a final vote, potentially shaping global crypto policy.

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